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Snapdeal Raises Re. 600 Cr For Co Valued At Re. 6000 Cr

PUBLISHED BY: SURENDER KUMAR
MAY 21, 2014

   
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Snapdeal Raises Re. 600 Cr For Co Valued At Re. 6000 Cr


Snapdeal, the online marketplace player, which has been on a fundraising spree in the past 12 months, has raised about $100 million (Re. 600 Crore) in a fresh investment round from Singapore's Temasek Holdings, BlackRock and Premji Invest. Earlier, it had raised $133 million (Re. 800 Crore) from existing investors led by eBay. So far the company has raised over $ 330 million (Re. 1800 Crore) since 2011, of which $ 280 million (1740 Crore) were raised in the past 12 months. The recent stake sale values the company at $ 1 billion (Re. 6000 Crore). Compared to this, Flipkart has raised more than $ 540 million (Re. 3400 Crore) since inception in 2007.

The company faces stiff competition from Flipkart and Amazon in India. It has recently entered the education and services categories. Snapdeal has more than 2.5 crore members, 30,000 sellers, and 500 product categories including kitchen appliances, electronics, musical instruments, couches, scooters, and clothing.



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